Saudi leaders have long talked about the benefit of a developed renewable energy industry in the Kingdom, but a perfect storm of international and domestic forces is providing officials with a golden opportunity to embrace alternative energy.
The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, research firm Rystad Energy has said, which would make the U.S. the world's largest producer.
Saudi Arabia’s Ministry of Culture and Information has confirmed that commercial cinemas will be allowed to operate in the Kingdom as of March 2018, according to a statement by Minister Awwad Al-Awwad.
An exclusive Reuters report reveals that Westinghouse is in talks with other U.S-based companies to form a consortium to bid in a multi-billion-dollar tender for two nuclear power reactors in Saudi Arabia, citing three industry sources.
Citigroup will be "fully operational" in Saudi Arabia in the first quarter of 2018 after an absence of more than a decade, according to reports, as it seeks to capitalize on opportunities in debt and equity capital markets.
OPEC discipline might be waning as oil's price continues to stay low on international indices as high supply persists, but recent moves by Saudi Arabia in Russia this week indicate action is forthcoming to curb supply.